Calculate the trade balance


Problem: Use the information in the table to answer the questions below. The values are in billions of dollars. U.S. Balance of Payments Exports of goods and services 973 Imports of goods and services 1391 Net increase in U.S. assets owned abroad 179 Net increase in foreign ownership of assets in the U.S. 706 Unilateral transfers received 40 Unilateral transfers paid 100 Investment income paid to foreigners 259 Investment income received from foreigners 255 (Show formula and calculations for full-credit) A. Calculate the trade (export-import) balance. B. What is the current account balance? (Show the 3 components) C. What is the capital account balance (Financial + Capital)? D. Calculate the statistical discrepancy?

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Accounting Basics: Calculate the trade balance
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